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So How Safe Are Bank Lockers?


wealthymatters

According to RBI guidelines, banks are not responsible for the contents of the lockers. A bank only needs to provide for protection of the lockers.The relationship between the bank and the locker customer is that of a lessor and a lessee.Since the contents of the locker are never shared with the bank, it is not responsible for the contents.

According to Section 152 of the Indian Contract Act, a bank is not responsible for any loss or damage to the contents of a locker. Even the valuables deposited in lockers are not insured. A bank does not have the ownership or knowledge of the contents of the locker and hence does not have any insurable interest in the matter.

The situation is clearly loaded against the customer . For example, in case of robbery,the customer is not only required to prove that the locker was robbed but also submit evidence of the extent of the loss. Read more of this post

Making A Million Dollars The Easy Way


wealthymatters

Making a million dollars is not as complex as many people believe. Play with the numbers.

Earning $1,000,000 can be:

250,000 people spending $4
100,000 spending $10
50,000 people spending $20
10,000 people spending $100
1,000 people spending $1,000

OR

What if you had a product or service that you charged $83 per month for?  You would only need 1,000 customers to earn $1,000,000 per YEAR. Read more of this post

The NCR Property Market


wealthymattersUrban areas in and around Delhi account for a stunning 40% of unsold real estate in India’s top eight cities.The NCR has a total of 303.48 million sq ft (or about 303,000 apartments) of unsold real estate.At the current pace of sales, this stock of housing requires another 53 months to be completely sold off. In comparison, for the Mumbai region, the figure is about 48 months, while it is the lowest for Bangalore at 19 months. For the top eight cities combined, the 765 million sq ft of unsold space will require at least 35 months to be sold.

But it’s not just the size of the unsold `inventory’ that makes Delhi the worst off among the real estate markets of larger cities. 56% of the unsold real estate in NCR is in areas which are currently uninhabitable. In other words, while the apartments have come up, the other essential infrastructure -roads, sewage systems, or water connections -have not.In comparison, the Mumbai Metropolitan Region (MMR) has 168 million sq ft (168,000 apartments) and Bangalore has 113 million sq ft (113,000 apartments) of unsold space of which just 2% of the inventory is in undeveloped areas in each region. Read more of this post

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